AN ONLINE RESOURCE CENTER TO FIGHT CORRUPTION, PRESENTED BY

PRIVATE SECTOR

UNCAC and the Private Sector

The United Nations Convention against Corruption is in many ways unique amongst intergovernmental agreements in that it has provision directly applicable to the private sector, and provisions that govern a State party’s interactions with the private sector. UNCAC considers the private sector’s engagement as essential to the fight against corruption.

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Some of the main aspects of UNCAC that related to the private sector include:

Article 9(1) of UNCAC requires States parties to “establish appropriate systems of procurement, based on transparency, competition and objective criteria in decision-making” and describes the requirements for such systems, including in regards to public distribution of information, conditions for participation, objective and predetermined criteria for decision, and effective domestic review of decisions.

Article 26 requires States parties to adopt measures to establish the liability of legal persons, whether criminal, civil, or administrative, and ensure that such liability does not preclude the liability of the natural person who committed the offence.

UNCAC also includes a number of provision that require the participation and cooperation of the private sector, such as: Article 14 on money-laundering, Article 40 on bank secrecy, and Chapter V on asset recovery. Know your UNCAC !